Tuum and Paymentology Partner to Empower Financial Clients with Card Processing

On September 19, 2023, Tuum and Paymentology announced a strategic partnership aimed at empowering their shared financial institution clients. Tuum, a cloud-native core banking platform, brings modular banking infrastructure that enables financial institutions to build and customize products. Paymentology, a global card issuer-processor, contributes its card processing and issuance capabilities to the partnership.

Together, the integrated offering allows banks, fintechs, and other financial service providers to more seamlessly launch and manage card programs alongside core banking functions. The partnership reflects a broader trend in embedded finance where specialized infrastructure providers are combining forces to offer more comprehensive solutions. By integrating their platforms, Tuum and Paymentology reduce the complexity for clients that would otherwise need to manage multiple vendor relationships.

Financial terms of the partnership were not disclosed. The collaboration positions both companies to compete more effectively in the growing BaaS and embedded finance market.